Mill Green Partners, a sponsor of several private equity offerings, has reported the sale of Solis Cumming, a 320-unit, Class A multifamily development project located in the Atlanta suburb of Cumming, Georgia, for $132 million or $412,500 a unit.
Mill Green Opportunity Fund VI LLC, a Regulation D private placement fund, invested $9.6 million in the project in September 2020, and upon sale, received a $31.9 million distribution.
“We are pleased to announce this result, which is the first sale in Fund VI,” said Greg Fox, chief executive officer of Mill Green Partners. “The strength of the multifamily market and excellent execution from our development partner, the Atlanta office of Terwilliger Pappas, and strength in our targeted Southeastern markets, such as Atlanta, contributed to this result.”
According to SEC filings, Mill Green Opportunity Fund VI launched in July 2019 and raised $48.2 million from accredited investors, as of June 2021, the date of the most recent filing.
Mill Green Partners sponsors the Mill Green Opportunity Fund series which focus on investing in Class A multifamily developments projects in the Southeastern and Mid-Atlantic U.S with a select group of development partners.